Aquila, TopInfra form JV for RE dev’t in South Korea

These projects include solar PV, wind power, and BESS.

Sustainable investment management and asset development firm, Aquila Capital, and renewable energy asset development company, TopInfra, formed a joint venture for the development of renewable energy sources in South Korea.

In a statement, Germany-based Aquila Capital, and South Korea-based TopInfra will focus on the development and construction of solar PV, wind power, and battery and energy storage system projects.

Included in the joint venture firm’s pipeline are 430-megawatt (MW) solar PV and a 1,000MW wind power projects that are at different stages of development.

“The renewable energy capacity demands in South Korea are expected to double between now and 2050 – to meet this, significant institutional investment is required, and we look forward to exploring the co-development of additional asset classes as the needs evolve,”  Alexander Lenz, CEO of Aquila Capital Asia Pacific, said.

“It is a pivotal time for sustainable energy and we are ready to help realise the full potential of this in South Korea and across the region at large, as we focus on our mission to broaden our investments here,” Lenz added.

South Korea, the current fourth largest power market in Asia Pacific, has committed to achieve net-zero emissions by 2050, they said.